IRS aims to clarify investment income tax under healthcare law

Comments (145)
TnMan wrote:

Wow, 317 billion over ten years! That is 32 billion a year. Only over one trillion a year to go.

Dec 03, 2012 6:40pm EST  --  Report as abuse
MelAnosis wrote:

In my business I know of 4 people in the early 60′s who have sold and will collect Social Security. They feared the capital gains increases would wipe out income they made if they stayed put for 3-4 more years ad they had planned. So next year, the government will be paying them instead of collecting income tax from them. That should be good for the deficit and the National debt. What Obama and his people don’t understand is that people’s behavior will change when you change the rules. He seems not to understand this simple concept. Apparently revenue dropped in England after the taxes were dramatically raised on the high earners. It’s fine with me also….since I have the luxury of working less next near to avoid taxes. Unfortunately the younger folks and the poorer folks don’t. So who gains from this? Ask the great Messiah in the White House.

Dec 03, 2012 6:47pm EST  --  Report as abuse
rowley wrote:

time to secede or be enslaved

Dec 03, 2012 6:52pm EST  --  Report as abuse
sabrina12 wrote:

Those with these investments will run to South America and Europe. That Sound you hear is the WOOSSS from the money being withdrawn from all investments and being crated to New Zealand.

Dec 03, 2012 6:59pm EST  --  Report as abuse
sabrina12 wrote:

Those with these investments will run to South America and Europe. That Sound you hear is the WOOSSS from the money being withdrawn from all investments and being crated to New Zealand.

Dec 03, 2012 6:59pm EST  --  Report as abuse
ounceoflogic wrote:

Am I wrong in thinking that the IRS does not have the authority to increase taxes without the approval of Congress? Isn’t that exactly what is being negotiated (in bad faith) right now by Boehner and Mr. Class Warfare? Is having hearings three months after the tax increases are imposed the way this is supposed to be done or is that just how it’s done in o’bama World?

Dec 03, 2012 7:06pm EST  --  Report as abuse
1Dagoooo wrote:

It never ZChanges. Thats what Hope , Change and Forward is going to be. Control through regulations and laws by this President and the Democrat Party which I was a Proud JF Kennedy Democrat.

To Day I wouldn’t give you the sweat of my A– to this Democrat Party. I now am a Independant Voter and the Rest of you Followers. Get ready for the next four years everyone of us are screwed. and he will leave with a retirement and will be laughing all the way to Hi as he will not go back to Chicago and live the rest of his life.

He is no fool and the Arfican Americans that supported him will be left in the cold as the rest of you will be. Keep supporting people like these Racist Democrats that point the fingers at everyone else.

Dec 03, 2012 7:06pm EST  --  Report as abuse
SavageNation wrote:

The Foreign Federal Reserve’s Private Collection Agency always sides with taking from the poor to rich and giving to the Ultra-Rich.

Dec 03, 2012 7:06pm EST  --  Report as abuse
CmdrBuzz wrote:

They say the only two sure things are death and taxes, but just where is it written we should be taxed to death.

Dec 03, 2012 7:07pm EST  --  Report as abuse
Misterbumbles wrote:

Good, it’s about time the weatlhy pay more and hey rich guys don’t even think about passing on those costs to the middleclass consumers of your goods and services, don’t even think about laying off people or cutting back anywhere because you will continue to spend money and still pay all these taxes and more because that is what Obama told you to do, and while your at it get off this blog and get back to work, I need more money on my EBT and more free minutes on my Obamaphone, don’t like it than you better find another country to live in, cause we gonna get ours.

Dec 03, 2012 7:08pm EST  --  Report as abuse
templecash wrote:

wait just a darn cotton picking minute.isn’t the congress that regulates taxes? i thought only IRS enforced them. i forgot this doesn’t matter anymore. rules are made to be broken.

Dec 03, 2012 7:12pm EST  --  Report as abuse
qewrasdfe wrote:

300 billion in 10 year? that’s 3billion a year. that should run THIS CRAZY GOV for about 18 seconds.

Dec 03, 2012 7:13pm EST  --  Report as abuse
iowafarm wrote:

The IRS drains your blood now they are in charge of the rest of your body. I am going to collect Social Security early now instead of working longer – why bother? That way when the death panel denies my care I can use my saved up SS benefits to pay for it. Also, I am cashing out my IRA before December 31st so today’s ordinary income is cheaper tax-wise than tomorrow’s income. Looking at buying a house in a non-tax (red) state next year. Busy Busy Busy. Only thing left to do is give away my assets to my kids so that Big O doesn’t get 55% and they get 45%.

Dec 03, 2012 7:13pm EST  --  Report as abuse
Joeab wrote:

“modified adjusted gross income (MAGI)”

Anyone ever heard of this before?
I have gross income and Adjusted Gross Income then Taxable Income but I never heard of or can find the line on my taxes for “modified adjusted gross income (MAGI)”

Any tax experts? Is this a new category?

Dec 03, 2012 7:14pm EST  --  Report as abuse
weeweedup wrote:

Gotta love these soft, fuzzy AP Headlines meant to ease the horrific impact Obamacare will have on the US. God help us.

Dec 03, 2012 7:14pm EST  --  Report as abuse
David_SD wrote:

Can I comment?

Dec 03, 2012 7:15pm EST  --  Report as abuse
auntym wrote:

Let’s face it, We were warned before the election….but I guess a lot of folks paid no attention!

Dec 03, 2012 7:16pm EST  --  Report as abuse
auntym wrote:

Let’s face it, We were warned before the election….but I guess a lot of folks paid no attention!

Dec 03, 2012 7:17pm EST  --  Report as abuse
auntym wrote:

Let’s face it, We were warned before the election….but I guess a lot of folks paid no attention!

Dec 03, 2012 7:17pm EST  --  Report as abuse
David_SD wrote:

Socialism does NOT work. It always ends the same way. Grinding poverty for everyone except the Nomenklatura (the political class).

Dec 03, 2012 7:17pm EST  --  Report as abuse
M_One wrote:

Taxes don’t “raise” money, they SEIZE money.

There is a difference. Ask anyone in who shot Brits ca. 1776.

Dec 03, 2012 7:19pm EST  --  Report as abuse
MajorBeatdown wrote:

For all of you nice folks who think Obama “just doesn’t understand”, you need to re-think that position quickly. He does understand. He just doesn’t care. The more damage he does to the economy, the more dependentcy he creates. He therefore is “buying” a never ending voter base for the future. Not for him, but for the next wave of socialists to advance and further his dream of tearing down America. If you think this is an extreme rant, consider this. His ONLY achievement in four years, is the ONE thing we as a country rejected most. He has created an enviroment, where the parasites now out number the hosts. The more parasites he can get feeding off of us contributers, the easier it will be to launch any number of devastating socialist programs, designed to destroy free enterprise,and promte Government dependancy. HE’S DOING IT ON PURPOSE!

Dec 03, 2012 7:20pm EST  --  Report as abuse
BobGrenJr wrote:

Yah, I took early retirement, too. If working people are so stupid that they don’t organize against these crooks in Washington, then too bad… they should become slaves. Working people are so stupid they don’t even know that 50% of their paycheck is being taxed away by the multitude of taxes. Look how organized the commies are: control the schools, government jobs, media… constant brainwashing. Yet, working people won’t organize… too dumb. mensunion org

Dec 03, 2012 7:21pm EST  --  Report as abuse
marvinlzinn wrote:

And a lot of our taxes pay for IRS complicated law development, forms, and lawyers to help us figure it out. I would favor President Obama paying all this nonsense from his salary.

Or elect me as President. My first task will be to eliminate half of the laws and government size – each year.

Dec 03, 2012 7:23pm EST  --  Report as abuse
DeweyDD wrote:

From MelAnosis: “What Obama and his people don’t understand is that people’s behavior will change when you change the rules.”

Absolutely correct. Especially those that know the power of American ingenuity. Many of us will simply cut employees and spend profits to come in just under the $250K ceiling. And if it changes, so will we. The US is about to see a rapid growth in small businesses that have just under 50 employees. Concierge medicine will explode. Those that don’t embrace free enterprise and believe that responsibility and self sufficiency are necessary will get exactly what they voted for…inefficient healthcare and looooooooong lines. But they can lift themselves out of the trap if they will embrace responsibility and a moral lifestyle instead of screaming for their “rights”.

Dec 03, 2012 7:23pm EST  --  Report as abuse
anabirgite wrote:

Dear Ounceoflogic, I believe these tax increases were all included in the bill no one read and ” …must be passed to know whats in it…” These are the taxes to be collect before benefits are to be paid and create the appearance and misinformation spewwed that the Obamacare bill will save money…

Dec 03, 2012 7:24pm EST  --  Report as abuse
pebbles14 wrote:

Refuse, resist, revolt. Remember Prohibition and prepare for medical speakeasies run by Dr. Al Capone….

Dec 03, 2012 7:29pm EST  --  Report as abuse
jack_433 wrote:

THE COMING REVOLUTION!!!

Dec 03, 2012 7:33pm EST  --  Report as abuse
jack_433 wrote:

THE COMING REVOLUTION!!!

Dec 03, 2012 7:33pm EST  --  Report as abuse
ctmom wrote:

The only consolation is that the idiots who voted for Obama will suffer right along with us. This will do wonders for the real estate market….

Dec 03, 2012 7:35pm EST  --  Report as abuse
VABB wrote:

The majority of people in this country are too stupid to figure out that they are being screwed by the government. They treat elections like a sports game and not an educated decision on how the country should be run. There was a clear choice this fall where all of this could have been avoided, but these idiots were too worried about such incredibly important issues like Bain Capital and Romney having a dog on the roof of his car.

Dec 03, 2012 7:37pm EST  --  Report as abuse
pebbles14 wrote:

“Idiocracy:” The official movie of the United States.

Dec 03, 2012 7:42pm EST  --  Report as abuse
ariazz wrote:

What freedoms are we willing to give up for “free” health care or a “free” cell phone. It looks like many people are more than willing to do same. However, if they are already tied to the gov’t for the necessities of life what are they really giving up for a little more from the gov’t piggy bank.

Dec 03, 2012 7:43pm EST  --  Report as abuse
Noname8649 wrote:

They point guns at you to make you pay for debts you didn’t incur!!! Wake up Sheeple . . . It is not a voluntary system. Forced taxation is theft!! Period!!!

Dec 03, 2012 7:46pm EST  --  Report as abuse
CMartel2 wrote:

The theft of the hard earned money of others who have already paid income taxes on it continues… Why not raise their income taxes, too? Oh wait, too late! You already did that.

So much for the “millionaires.” Why not the 250-thousanders? Or when the dollar is run completely into the ground, why not everyone?

This administration is so corrupt.

Dec 03, 2012 7:49pm EST  --  Report as abuse
tatcov wrote:

Rules, rules, rules,… aren’t you all getting sick of rules!

Dec 03, 2012 7:56pm EST  --  Report as abuse
RedneckGIrl wrote:

ctmom: I agree with you. When the idiots who voted for Barry finally get no check, who will they have to thank? Themselves. By then it will be too late. Then what will the parasites do?

Dec 03, 2012 8:00pm EST  --  Report as abuse
RedneckGIrl wrote:

I wish I could retire. I still have several years to work. I did cash in my 401K in mid October. I have found that Iowa Senator Tom Harkin. along with a few others, want governmental seizure of private 401K’s. Call his office and try and get a comment from his staff. They act so dumb it isn’t even funny. Even if you tell them to Google the video OR better yet, send the link, they still act dumb like they don’t know. They can’t have mine because they don’t exist. I took a huge hit (40%) but now my money is mine (for now).

I will keep growing my garden, going to work, paying more taxes, supporting the parasites.

Dec 03, 2012 8:06pm EST  --  Report as abuse
datruth4you wrote:

Yes…raising taxes has always worked every time in history. In fact, if we just had a 100% tax rate, there would be nirvana right here in America just like all the other nations in the world that have solved all their problems with high taxes!

Come on libs, lets go to 100% and save the nation!

Dec 03, 2012 8:22pm EST  --  Report as abuse
Joesockit wrote:

The rich hide or move their money thus they buy less. Less demand=fewer jobs for Obama voters. Then there will be less tax revenue, the Democrats will then promis more freebees and come for more taxes until there is nothing left to do but outright confiscate property, MMmm.. where have we seen this recently (Chavez, Castro, Lenin)? The last election was the end of America as the takers finally outnumbered the producers. Unfortunately I didn’t make it to the level where I can gather enough money to leave and live. I will be forced to become a taker even though I would work 80 hours a week if I thought I could make it up the ladder. Obama has smashed the ladder. It’s over.

Dec 03, 2012 8:28pm EST  --  Report as abuse
Nexialist wrote:

The MAGI will hit the middle class when they sell their house. Save for years, pay down your home mortgage, and then the government takes its cut for a second time.

Dec 03, 2012 8:30pm EST  --  Report as abuse
gerardtn wrote:

Screw the IRS.

Dec 03, 2012 8:30pm EST  --  Report as abuse
DanBalbi wrote:

Get ready for a depression. Jobs are going to be lost by the millions.

Dec 03, 2012 8:38pm EST  --  Report as abuse
ChipLansing wrote:

I make all my money under the table. So ph-uck the IRS. (signed Illegal Immigrant).

Dec 03, 2012 8:39pm EST  --  Report as abuse
chesley67 wrote:

I am 46 and I give up. I work all day and at lunch all I see are people drinking beer and smoking away on the porches as I have half an hour for lunch. I have said the hell with it. I am going on disability like all of them.I have worked in pain for two years with a torn shoulder and compressed disks and for what. Why should we all pay for them. The welfare system and disability system were not for a life time of living off the system. Unless you are really disabled. It is sad to see what the USA has become. God help us all……

Dec 03, 2012 8:50pm EST  --  Report as abuse
Seclusion wrote:

I’m 43 years old formerly living and operating in Minnesota. Since 1996, I have owned a unique electrical distribution company supplying products to every state in the nation and half the countries in the world. I worked tirelessly. I have only taken two vacations lasting a few days each since 1996. I cannot count the hours and weekends I worked as well. I sacrificed many years without taking a paycheck. My gut feeling told me Obama would win. I flew to Beijing China on 24 July 2012 to sell my company. It sold the same day I arrived. The Democrats took the MN State House, Senate and have the Governor’s office. Obama won the election and the Democrats hold the Senate. I am done with this Democrat madness. My money will be tied up in physical precious metals held in my possession OUTSIDE of the United States. All of my finances will be hidden from the federal feral government. I am retired. I am traveling until they day I die. Living life. I will not participate in Obama and the Democrat’s scorched earth policy against small business owners.

Dec 03, 2012 8:51pm EST  --  Report as abuse
SupBro wrote:

At least we saved Big Bird!!! Now where my Obama Phown

Dec 03, 2012 8:58pm EST  --  Report as abuse
metoo123 wrote:

If the rich can afford to pay $50,000 a plate to hear Obama or Romney, they can afford to pay more in taxes.

Dec 03, 2012 8:59pm EST  --  Report as abuse
kezqueen wrote:

My company closed its doors today. Two hundred people out of work. Bad economic conditions beat on us for five years and we finally gave up. There was still a sliver of hope with a Romney win, but it was not to be. My thoughts are with the people who invested their time and lives who are now without a joyful christmas. I am sure most voted for Obama since they were mostly young, hip and multicultural. Maybe with a few hard knocks next time around, the pendulum swings the other way. This is still america, and in the end freedom and opportunity still reigns no matter how young your are or the color of your skin.

Dec 03, 2012 9:08pm EST  --  Report as abuse
congressive wrote:

Reuters seems to be attracting the Breitbart crowd here in the comment section. I didn’t think Sean Hannity could post under so may screen names at once.

Dec 03, 2012 9:10pm EST  --  Report as abuse
ojfl wrote:

No one should be surprised. Or did they think all of this newly minted healthcare entitlement would be free? No one would have to pay for it? Guess again. Prepare your wallets ladies and gentlemen.

Dec 03, 2012 9:13pm EST  --  Report as abuse
70chevelleSS wrote:

Elections have consequences, and america has the politicians it deserves. RIP USA.

Dec 03, 2012 9:18pm EST  --  Report as abuse
congressive wrote:

If a 3.8% tax on investment income over $250,000 (not a penny on earnings under that) would “wipe you out” as one poster writes, you need a new accountant. Nobody quit a quarter million AGI job to collect SS over a 3.8% tax on dividend income over a quarter million.

All you secessionists: secede already. The blues states would love a reason to pummel you into your senses. Again.

BIll Gates and Warren Buffet are shopping for a condo in South Africa? Oh, lordy. There’s nothing but fake outrage here, but in case there’s actually a rich person here, here’s the deal: you make your fortune here, you pay taxes here. You wanna move and make your fortune in South Africa? Good luck with that, and don’t let the door it you in the – on the way out.

Dec 03, 2012 9:25pm EST  --  Report as abuse
JohnnyDee wrote:

Let’s see how this plays out for Obumma. I downsized my practice in 2011 from 14 employees to 5. I’m winding down and reducing it to zero by the end of this year, I’m closing up shop. I will have all stocks cleared out by the end of this year, and will subcontract with a medical group as an independent contractor. I will make sure my annual income is below 175k just to play it safe. I will have a lot more free time, and will consider resuming my activities in 2016.

Dec 03, 2012 9:27pm EST  --  Report as abuse
deadpammy wrote:

They are going to take everything.

Dec 03, 2012 9:27pm EST  --  Report as abuse
071767 wrote:

Congress being exempt from Obamacare will not be subject to this tax.

Dec 03, 2012 9:41pm EST  --  Report as abuse
pepperdingle wrote:

Doesn’t it warm your heart to know that the mega lottery power-ball prize of $550,000,000 would fund the US government for 1 hour and 26 minutes?

To think all my life’s taxes will move a aircraft carrier 2 feet!

Or

Fund a three day study of whether pheno-sexuality (the sexual attraction to house plants) is a lifestyle choice or a mental illness.

Dec 03, 2012 9:42pm EST  --  Report as abuse
glaw wrote:

If I were a bigshot, I would probly make sure I made less than 250k/200k respectively per year.. And as some have pointed out 317 billion over ten years is a drop in the bucket.. and obviously is not the right place to fix the budget. Someone needs to go back to accounting school to understand that you cant spend more than you take in.. The feds really crack me up.

Dec 03, 2012 9:43pm EST  --  Report as abuse
volinva wrote:

Welcome to Ameritopia. It gets worse. Orwell’s 1984 is here.

Dec 03, 2012 9:46pm EST  --  Report as abuse
noseitall wrote:

Remember the Alternative Minimum Tax?

When it was passed many years ago, it was meant only for a few of the very wealthy, but today is hitting the middle class. Why? Because it was not indexed for inflation, therefore some in the middle class today are subject to the AMT.

Fast-forward to today. Democrat leaders think “Hey, Dems are so dumb that we can sell them on higher dividend and capital gains taxes ‘on the rich’. It won’t be indexed to inflation, so in a few years all of our low-information voters will be paying the tax, even though they’re middle-class income folks! And by then, we’ll be retired, so we won’t have to take any heat for it! And our dummy Dems will never know what hit them!”

Silly people who think they are gonna get something for nothing.

.

Dec 03, 2012 9:49pm EST  --  Report as abuse
WIworkinWoman wrote:

What scares me most is the electorate. Not necessarily taxpayers, but voting none-the-less. God help us all.

Dec 03, 2012 9:57pm EST  --  Report as abuse
gomp74 wrote:

I have a good idea. How about tax those who are in the White House, Senate and Congress at 75%.

Dec 03, 2012 10:11pm EST  --  Report as abuse
Joenole wrote:

MelAnosis,

Obama understands exactly what he’s doing. He can’t single out White America by itself for taxes so he’s doing the next best thing. His goal is to bankrupt the country as it exists. He wants to force change, his change whether we like it or not and that sucks.

Dec 03, 2012 10:17pm EST  --  Report as abuse
stenger wrote:

Turns out I need braces on my teeth. Since I am a 60 year old salesman I don’ want wires so I am using invisible braces. So I get a cost estimate. They give me 2. A before Jan 1 and an after Jan 1. The after Jan 1 is about $200 higher. Why I inquire. Turns out braces are considered medical devices and subject to an Obamacare tax. Gee thanks.

One other thing. Watch as things go forward. It will get worse.

Dec 03, 2012 10:19pm EST  --  Report as abuse
MeMadMax wrote:

The tax laws already span several Volumes….

Whats another volume gonna hurt? >_>

Dec 03, 2012 10:19pm EST  --  Report as abuse
romanaugusto wrote:

The exodus will begin also in 2013. People will love the adventure of moving to another country. Cuba will become much more sound economically than the U.S. I have no doubt the country will collapse and the exodus will become massive, except it will be much more difficult to leave the country than to enter illegally.

Dec 03, 2012 10:28pm EST  --  Report as abuse
roughman wrote:

Hey, jerks… I did NOT vot for obama, either time.

Stew in your own juices.

Dec 03, 2012 10:29pm EST  --  Report as abuse
eflint1 wrote:

Ha ha. My wife is a Mexican national. She came here legally in 2001. Her family has a thriving business down there. We are selling our property here and leaving. We will make good money and live like kings in Mexico and we won’t be paying one thin dime in taxes to the Obama regime. Americans are fools and I refuse to support them any longer. I’m buying a ham or side band radio to be able to communicate with folks back here after things collapse. I truly believe I will watch scenes of totally anarchy and chaos in America on Mexican TV in the near future. I hope some governors will rally their States and form an armed resistance, but I won’t hold my breath. Arm yourselves and prepare to kill or be killed. It’s going to be that bad very soon.

Dec 03, 2012 10:31pm EST  --  Report as abuse
politiconned wrote:

Incredible that the government would take money from people that have worked hard and saved all their lives and give it to the sloths of society.

Dec 03, 2012 10:47pm EST  --  Report as abuse
haaggus wrote:

The federal government has enough money, and by spending public money on healthcare it causes inflation of healthcare costs. This is horrible. The government is taking over our lives!

Dec 03, 2012 11:00pm EST  --  Report as abuse

MelAnosis, Obama doesn’t understand life because he is over educated with that Columbia and Harvard bull and then went out and never lived and worked in the real world. Community Organizer? Please.. He skated through State Senate, US Senate and Presidency not by offering something of a vision but rather “kill” your opponent because you really have nothing to offer. Sadly we have seen that case and sadly, America has too many idiots with the right to vote.

My friends son works for the railroad and he survived the recent round of layoffs. Why is the railroad laying off? Obama’s war on coal. It has closed some mines and reduced output of others and therefore not a lot of train cars needed to haul and therefore less people needed to operate the trains they do have hauling coal. See Obama and the Harvard faculty lounge types he surrounds himself with don’t see that. They don’t see that every action has an equal and opposite reaction, according to Newton’s law!

What does Obama accomplish? Red tape and a lot of it! Bigger government of non producers whose six figure salary with great benefits has to be supplemented by you and I. Well America, you got the government you wanted and when you start bitching and you’re sorry you voted for Obama, don’t come crying to me! I hate stupid people.

Dec 03, 2012 11:04pm EST  --  Report as abuse
pyeatte wrote:

Well, if you voted for Obama, you have no one to blame but yourself.

Dec 03, 2012 11:09pm EST  --  Report as abuse
Dogchat wrote:

Wow now that it passed we are really going to see what’s in it?

Dec 03, 2012 11:24pm EST  --  Report as abuse
Diplomate wrote:

Please organize an Impeachment committee and ge rod of this maniac

Dec 03, 2012 11:41pm EST  --  Report as abuse
Jhawke wrote:

And another thing: I am now making preparations to retire overseas and take MY MONEY with me. You idiotic liberal Demwit regressives can stick your quasi-socialist, neo-Marxist dreams of Obama’s fathers where the sun doesn’t shine as well.

Dec 03, 2012 11:50pm EST  --  Report as abuse
romanaugusto wrote:

at least now an accounting major will be able to pay back the student loan quickly – if they can survive being yell at by their clients. together with obamacare the next four years inflation will soar to levels that even my predictions will fall short, then after that the dollar will completely collapse in 2017 and we will have civil war. the vast majority will loose almost every asset they own. best thing is to move out the country before 2016 if you have a family otherwise stay and fight.

Dec 03, 2012 11:52pm EST  --  Report as abuse
lookingatjake wrote:

Obama is an anti-colonialist. He must based on this belief drive this country into the ground to take the wealth away from it’s citizens and return it to those he believes this country has exploited. The progressives have worked the past 40 years in education, media and within the governments to make the chances and slowly have the citizens accept a leader that will decrease our individual freedoms and bring this countr to it’s knees. We have seen as a result of corruption and failure to protect the Constitution result in these changes.

Dec 03, 2012 11:54pm EST  --  Report as abuse
Swededawg wrote:

Seniors, beware, the bullseye is on you. You are now only a entry on a balance sheet. No compassion or respect for human life. Also, remember, once Gov’t controls your health care it controls you and you have lost your freedom.

Dec 04, 2012 12:05am EST  --  Report as abuse
BillNM wrote:

We had one chance for reform and a soft economic landing, and his name was Ron Paul. The demopubs are one party and the result is always the same. There are two rules – first it is always about money, and second don’t forget the first rule! I voted with the majority by not voting. They do not have my consent. So, bring on the collapse and the Black Markets. I’m looking forward to some real free enterprise.

Dec 04, 2012 12:06am EST  --  Report as abuse
DanBalbi wrote:

Abolish the IRS and go to a flat 10% tax for everyone including business. Cut the Federal Govt by fifty percent and imports by fifty percent and this country would proper

Dec 04, 2012 12:10am EST  --  Report as abuse
shadrach wrote:

People need to understand how animated Obamanation and the left are by the redistribution of wealth. He’s not interested in what might be good for the country. Going forward the in the wake of Obamacare, Cap and trade, inflation, the country will become desperate for money and everything that moves or breaths will have to be taxed.
Think of what these programs will do to those states like California that are already on the verge of failure. Who honestly believes that debt doesn’t matter?

Dec 04, 2012 12:14am EST  --  Report as abuse

This is what half the country voted for! Unfortunate most of that half doesn’t know the difference between profits and losses. These f”’n democrats better not complain about G”d damn thing….you get what you ask for dufuses!

Dec 04, 2012 12:29am EST  --  Report as abuse
RidinDirty wrote:

Obama is engaged in a reprehensible politically motivated scheme to allow the nation to go off the fiscal cliff.

He will then swoop in like carrion fowl and demand a tax cut on just the ‘middle class’. However, the republican House should call this political opportunist’s bluff and deny him.

We must remove these profligate spending drunken Leftists before they destroy the Republic with both class warfare and unfunded debt.

Dec 04, 2012 12:32am EST  --  Report as abuse
shadrach wrote:

Costco has declared a $7 dividend to be payed by Dec. 31, 2012. and will have to borrow the money. Former CEO Jim Sinegal who spoke at the 2012 Democrat convention in support of Obama and raising taxes on high income earners holds over 2 million shares and will collect sum 14 million dollars and will shave 4 million dollars in taxes.
Talk about hypocrisy on the left.

Dec 04, 2012 12:32am EST  --  Report as abuse
shadrach wrote:

You get what you pay for and you get what you vote for.

Dec 04, 2012 12:35am EST  --  Report as abuse
MDABE80 wrote:

It won’t stop here. If given the powers he wants, Obama will take whatever he thinks will get votes by playing the division game. What he does is never what he says he wants.

Dec 04, 2012 12:47am EST  --  Report as abuse
AllynS wrote:

MAGI will probably include non-taxable income (such as tax exempt interest) And perhaps add backs of some deductions taken in arriving at AGI. The IRSis not writing tax law or imposing taxes. They are charged with writing the regulations interpreting the idiotic laws written by Congress.

Dec 04, 2012 12:50am EST  --  Report as abuse
RexSpurtz wrote:

So you work hard, make enough money to invest (already taxes you on it), and any of that income realized they want to tax. This Regime assumes “you’re rich, you shouldn’t have that; you didn’t make that. We need to punish you by taxing it AGAIN.” Then the Far Left Party wonders where all the jobs are. Wait till the homeowners see they can’t deduct their mortgage interest anymore. The Far Left Party is going after that now. Don’t blame me! I voted for Romney!

Dec 04, 2012 12:51am EST  --  Report as abuse
JustMe256 wrote:

In other words… “We have to pass the bill to know what’s in it”…

Dec 04, 2012 1:50am EST  --  Report as abuse
BubbaT wrote:

The fleecing of America by Communist criminals. They’ve been doing it for years through the IRS and SS but it’s never enough. Time for a revolution.

Dec 04, 2012 1:50am EST  --  Report as abuse
alexandron wrote:

Health insurance, like all insurance, was created for those who like to bet against themselves. Congress should be made to explain their take on this socialistic wet dream, regulation by regulation, since it was conceived by faceless bureaucrats behind closed doors. This would require them to actually read and understand what they have passed for everyone except themselves. Taxes are a form of progressive slavery to government. This travesty is the mother lode for progressives.

Dec 04, 2012 1:57am EST  --  Report as abuse
Carlyle_ny wrote:

Oh goody! How delicious it will be when the rich people who espoused today’s brand of self-destructive “liberalism” find their wealth confiscated. My friends! There IS justice in this world after all!—even if only of the poetic kind.

Dec 04, 2012 2:00am EST  --  Report as abuse
RoyalBlue777 wrote:

Exactly, MelAnosis thus the problem with socialism. If you you suppress the freedom to create, take away reward from risk, rob from wealth creation people are just going to do something else.

It really is mind boggling how these social utopians don’t realize behavior changes as the rules change. Simply amazing.

Dec 04, 2012 2:24am EST  --  Report as abuse
Myles wrote:

Steal from those who WORK for their money, and give it to those who DON’T! It’s so wonderful being an Earthing at this time in history. The Berlin Wall is torn down and rebuilt in America. If I didn’t know better, I’d think that roughly 51% of all Americans are hopelessly lazy, apathetic and proudly stupid.

Dec 04, 2012 2:30am EST  --  Report as abuse
Woody_UMO_82 wrote:

$200k for single and $250k married? What about equal protection under the law? Maybe it’s time for the supreme court to step up and finally declare this double standard as unconstitutional. I’d get divorced for $150K, and come out $58,500 ahead – $58,000 after paying $500 to a ham and egg divorce lawyer.

Dec 04, 2012 2:41am EST  --  Report as abuse
thk wrote:

No one here mentions the culpability of Harry Reid and Nancy Pelosi and the entire Democrat party in bringing about the financial crisis our country faces. Why not? Why are these two people and their Democrat party so sacrosanct?

Dec 04, 2012 2:43am EST  --  Report as abuse
ElMendoza wrote:

This union is not working, and perhaps it is time we dissolve it.

Florida should be governed by Floridians, not by a bunch of jack booted scum sucking yankees.

Dec 04, 2012 2:58am EST  --  Report as abuse
Right... wrote:

I really am very thankful that I now in China.

It is, without exaggeration, ten-times easier to live and work here than it is in the U.S. and I have managed to save more money here in the last three years than I did in the last 13 years in the U.S.

Goodbye America, was nice knowing you.

Dec 04, 2012 3:16am EST  --  Report as abuse
Uselessgit wrote:

Everyone is looking only at the big hairy of the tax hikes. Look past that. The raising of taxes is only a symbolic gesture meant to make the democrat base happy. It’s not going to fix a damn thing since Obama is just goinng to increase spending anyway.

What I think is that it paves the way to break the GOP. The Obama plan is to eliminate any political opposition. The day after the tax hike the problems are still going to be there. Just like QE 1, 2 and 3… keep doing more of the same. We’ll get tax hike 2, 3 and 4, until we have tried and the only solution left is some sort of “Final Solution” Obama is a commie. Anyone care to think what his Final Solution is? It’s not raising taxes to 39.6%. Clue up. You liberals get happy when than happens, just think how happy you will be when they go for 80%, 90% or 100% tax. You’ll be in paridise.

Dec 04, 2012 3:18am EST  --  Report as abuse
sbob850 wrote:

Obummer Marxist Madness, you ain’t seen nothin yet.

Dec 04, 2012 5:03am EST  --  Report as abuse
Secondchance wrote:

Time to batten down the hatches as we head into the vortex of socialism…

Dec 04, 2012 5:14am EST  --  Report as abuse
Secondchance wrote:

Time to batten down the hatches as we head into the vortex of socialism…

Dec 04, 2012 5:14am EST  --  Report as abuse
godbluff wrote:

So, the government want people to invest less… That sounds like a good idea… IF YOU WANT TO DESTROY BUSINESS, THE ECONOMY, THWART GROWTH, CAUSE HARDSHIP, DECREASE THE INCOME TO THE COFFERS DUE TO THE PLAN ETC ETC ETC… The USA inc are fools.

Dec 04, 2012 5:49am EST  --  Report as abuse
Saristas wrote:

@thatsdafactjack

well, as you’ve said yourself every action has an equal and opposite reaction, therefore jobs lost fighting coal, opened up jobs in the development of green energy, isn’t that right?

Dec 04, 2012 6:31am EST  --  Report as abuse
DrDewLiddle wrote:

“You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is about the end of any nation. You cannot multiply wealth by dividing it.”

Dr Adrian Rogers, 1996

Dec 04, 2012 7:17am EST  --  Report as abuse
4mommy wrote:

“…the two taxes are estimated to raise $317.7 billion over 10 years”
Static analysis; It won’t raise the paltry, insignificant $3B+, but it makes broke, stupid underclass democrat voters feel better.

Dec 04, 2012 7:25am EST  --  Report as abuse
kg4boe wrote:

So begins the death of small business. Somehow, I think that was the plan all along. Even if those elected are completely ignorant (and they are), there are advisers galore that know the effects of this.

Dec 04, 2012 7:57am EST  --  Report as abuse
Cogs wrote:

Democrats are so slothful.

Dec 04, 2012 7:58am EST  --  Report as abuse
eavesmaccer wrote:

This is just a ploy to get more people under the medical communities’ agenda 21 mandates. Yeah, I’m a crazy conspiracy theorist that hasn’t been in a clinic or hospital for going on 11 yrs. That’s because a 78 yr old lady who runs the YMCA here in Louisiana said, “you can pay the YMCA or the doctors, take your pick.” Needless to say……..

Dec 04, 2012 8:11am EST  --  Report as abuse
lloydc1234 wrote:

It’s simple raise some taxes AFTER we cut the waste and fraud out of government. This includes businesses who do work for the government that we don’t need.!!!

Dec 04, 2012 8:11am EST  --  Report as abuse
lloydc1234 wrote:

It’s simple raise some taxes AFTER we cut the waste and fraud out of government. This includes businesses who do work for the government that we don’t need.!!!

Dec 04, 2012 8:11am EST  --  Report as abuse
lloydc1234 wrote:

It’s simple raise some taxes AFTER we cut the waste and fraud out of government. This includes businesses who do work for the government that we don’t need.!!!

Dec 04, 2012 8:11am EST  --  Report as abuse
lloydc1234 wrote:

It’s simple raise some taxes AFTER we cut the waste and fraud out of government. This includes businesses who do work for the government that we don’t need.!!!

Dec 04, 2012 8:11am EST  --  Report as abuse
lloydc1234 wrote:

It’s simple raise some taxes AFTER we cut the waste and fraud out of government. This includes businesses who do work for the government that we don’t need.!!!

Dec 04, 2012 8:11am EST  --  Report as abuse
lloydc1234 wrote:

It’s simple raise some taxes AFTER we cut the waste and fraud out of government. This includes businesses who do work for the government that we don’t need.!!!

Dec 04, 2012 8:11am EST  --  Report as abuse
lloydc1234 wrote:

It’s simple raise some taxes AFTER we cut the waste and fraud out of government. This includes businesses who do work for the government that we don’t need.!!!

Dec 04, 2012 8:11am EST  --  Report as abuse
lloydc1234 wrote:

It’s simple raise some taxes AFTER we cut the waste and fraud out of government. This includes businesses who do work for the government that we don’t need.!!!

Dec 04, 2012 8:11am EST  --  Report as abuse
lloydc1234 wrote:

It’s simple raise some taxes AFTER we cut the waste and fraud out of government. This includes businesses who do work for the government that we don’t need.!!!

Dec 04, 2012 8:11am EST  --  Report as abuse
GST72 wrote:

Hold on to your wallets the ride is going to get rough fast! This is just the start, the first of the 22 tax increases in the Obamacare legislation. Wait until the real estate market and those selling homes or property realize the federal government now has a 3.8% tax on any real estate sale (e.g. If you sell your home for the average $200,000.00 that a middle class home is thought to be worth your tax is $7,600.00 on the sale). Since the real estate market is over a trillion dollars a year that means the government is going to collect about $38 billion a year out of the economy. When all of these taxes are imposed the cost to the taxpayers will be well in excess of $1 trillion a year of about 7% of our economy as an added tax. Remember this is jut the start of the Obama taxes.

Dec 04, 2012 8:52am EST  --  Report as abuse
chipgiii wrote:

Eventually people will understand that the PPACA has little to do with healthcare and much to do with what it really is, a broad based tax increase giving the IRS a lot of power. As you read this article are you learning about healthcare? Or, are you learning about new taxes?

Dec 04, 2012 9:13am EST  --  Report as abuse
we_the_people wrote:

“The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI)”
An awful lot of real Millionaires and Billionaires have MAGI incomes less than $200K.
They bulk of their income is through foundations, and other TAX Loopholes.
This will NOT affect them. It only affects those Small Business owners who need their income to pay their bills, salaries and overhead.

these are the people that will get destroyed.

But, alas, that is the plan. Rule by Marxism requires the Government to own the worker. That means they must own the work. And since the bulk of workers in the U.S.A. are hired by small businesses, that is their target.

Dec 04, 2012 10:18am EST  --  Report as abuse
tonymo wrote:

I believe Reuters meant to say “passed by the demo-RATS in the congress!”

This unmitigated disaster has already begun to show it’s fangs. The worst parts will appear after Obama disappears. Healthcare, the IRS & INVESTMENT income. How does that compute?

Some tried desperately to warn you about the coming disasters of this biggest incursion ever by the govertnment into our lives, as our conce cherished freedoms are systematically eroded with every new regulation.

The federal government WAS NEVER meant to have this much control over our lives. The purpose of the constritution was to SEVERELY LIMIT that control. We are every day inching closer to being France than the United States founded on individual liberty.

Dec 04, 2012 11:23am EST  --  Report as abuse
reuterssucks1 wrote:

LEVIATHAN MUST BE FED!

Dec 04, 2012 11:27am EST  --  Report as abuse
redhawkone wrote:

HERE WE GO FOLKS…. WHAT WAS FEARED BY SOME WHO DID NOT VOTE FOR THE AMATEUR DESPOT>>>IS COMING TRUE….MIDDLE CLASS WILL ONCE MORE GET SCREWED AS USUAL VIA “UNSEEN” TAXES AND COST OF LIVING INCREASES >> FOOD>>GAS>> HEAT>> AND ADDITIONAL WELFARE WASTE FOR “HIS” VOTERS>>>>

Dec 04, 2012 12:02pm EST  --  Report as abuse
ONTIME wrote:

The government composed of elected and appointed officials and many unionized hirelings all of which seem to be the only well of folks in the country, this stands to reason because those in office make the laws, the ones for themselves and the ones WTP are to live by and to be outspoken, which I am, this is getting tiresome. The middle class is being replaced by government employees, the private sector is just a source of money and slave labor, WTP are to give the incumbent elites and their friends are to prosper and profit at our expense. We given until it hurts and the elite side pats us on the head and coos about how we peons suffer.
How many out there are tired of incumbecy and elitism, overpaid, over compensated government and when does the boss WTP, say to the employees enough? I am sick and tired of government growth, cost and compensation, the inability of this clown act to be held accountable or be controlled is now outrageous, it’s is time to pare down and reorganize this Republic, to repair and maintain and term limits salary only, no retirement along with a national sales tax will give us a accountable budget, put a stop to class warfare and social discrimination and put the civil back into public service….all of this onesided government grab needs to end and those in government need to be in the real world with all of us….

Dec 04, 2012 12:27pm EST  --  Report as abuse
sabrina12 wrote:

This is easy to beat, Become a low income earner instead of a high income earner. Those who can will, those who can’t would not have anyway. Become part of the govt suck crowd and pay zero in taxes and get free cheese out of the back of a truck as well.

Dec 04, 2012 12:31pm EST  --  Report as abuse
geonyc wrote:

Can anyone think of a good reason for my husband and I to continue working 18 hour days, paying employees and our bills, assuming the risks necessary to grow the business and wisely investing our profits for the future? It seems that our best option at this point is to stop producing and start taking.

Dec 04, 2012 1:37pm EST  --  Report as abuse
minfxbg wrote:

Over two hundred years ago, this nation rebelled against a king that imposed such onerous taxes upon its subjects. Now we have a pretender who make himself king and subjugate the nation’s citizens to same hostilities that our forefathers overthrew.

Dec 04, 2012 1:37pm EST  --  Report as abuse
dad-of-2 wrote:

Just watch – they will not finalize the tax changes until January, when it is too late for people to adjust their investments to minimize their tax liabilities except for the Big Os’. By Big Os’, I mean Obama’s friends the Bourgeoisie, while we the proletariat suffer. Get use to these terms; the President has created Czar’s in American and now is trying to create these classes.

Dec 04, 2012 2:34pm EST  --  Report as abuse
romanaugusto wrote:

I think high income earners will be able to compensate by purchasing expensive art, clothing, and cultural and sport events. that will reduce their profit margins if the purchases are business expenses. they can set up a chain of businesses to take care of their assets and personal expenses. like picture in picture, businesses will set up businesses inside businesses. what’s not allowed is to earn income, but art, cars, yachts and luxuries will reduce income if they become business expenses. so traveling will soar and owning many homes will soar. but they will stop hiring and expanding their businesses and since 98 pc of black females voted for obama, they will not get hired.

Dec 04, 2012 3:30pm EST  --  Report as abuse
TexasChris wrote:

Get ready for landlords to get out of the rental business. Housing prices are going to plummet…

Good job, Washington, DC!

Dec 04, 2012 3:39pm EST  --  Report as abuse
NowYouKnow wrote:

For all you liberals out there who are still giddy about ObamaCare, we had to pass the bill to find out what was in it. They we had to let the IRS rules writers do their thing to REALLY find out what is in it. It has been my experience that the IRS rules bear little resemblance to the original bill passed by Congress. The rules writers over at IRS will expand the scope, add to their power, add qualifications and add disqualifications that were not in the original bill. In other words — BEND OVER!

Dec 04, 2012 4:27pm EST  --  Report as abuse
AGEDWARDS wrote:

What is lost in this whole argument is the fact that now the infamous 47% will be who we are working for now. The Founding Fathers stipulated that the voting franchise belonged to the propertied tax payers. Perhaps they were on to something. These new proposed taxes will not be used to get the dysfunctional federal house in order but instead aggrandize the welfare state thereby further enhancing the Democrats hold on power, the productive, law-abiding tax payer be damned. Any takers for this suckers bet???

Dec 04, 2012 5:02pm EST  --  Report as abuse
alyssakayla wrote:

God only knows what else they liberals put in this HealthCare bill. Taking from the workers to redistribute to the lazy, all in the name of “Health Care”. War is on the horizon. The government takes enough of my hard earned money already and gives it to undeserving individuals. The “fiscal cliff” by the way, why is it that every time the government gets itself in a bind, why is it that working taxpayers always take the blame and end up paying for the governments mistakes. Working taxpayers stand to lose a minimum of $3,500 per year, what are the poor going to lose? The people on government assistance aren’t going to have to change their lifestyle, we (taxpayers will have to do without some things to make up for the new taxes being stolen from us, the welfare crowd will not have to give up a damn thing.

Dec 04, 2012 5:47pm EST  --  Report as abuse
beansbeans wrote:

I’m laughing cuz some people actually thought something in Washington was gonna get done right. Ha ha ha ha.

Dec 04, 2012 6:26pm EST  --  Report as abuse
123456951 wrote:

The tea party is going to get larger, which means the rift between Dems and Reps with become wider and wider.

Dec 04, 2012 8:21pm EST  --  Report as abuse
Twinja wrote:

We are paying for Bush and Obama’s poor management of this countries finances. Obama just cost me $2500. Thanks America.

Dec 04, 2012 8:38pm EST  --  Report as abuse
romanaugusto wrote:

the rich will have to make peace with less asset growth and concentrate like Obama on wasting their time spending money a la Michael Jackson all the way to moral and equity bankruptcy. lack of attention to growing their businesses will lead to poor management practices, the return of downsizing, hardly any hiring and simply a surge in construction projects and high luxury living. a hay day for interior designers and remodeling contractors. lots of people working by themselves but dealing with the IRS will consume them. the country will go broke by 2017.

Dec 04, 2012 8:59pm EST  --  Report as abuse
romanaugusto wrote:

the rich will have to make peace with less asset growth and concentrate like Obama on wasting their time spending money a la Michael Jackson all the way to moral and equity bankruptcy. lack of attention to growing their businesses will lead to poor management practices, the return of downsizing, hardly any hiring and simply a surge in construction projects and high luxury living. a hay day for interior designers and remodeling contractors. lots of people working by themselves but dealing with the IRS will consume them. the country will go broke by 2017.

Dec 04, 2012 8:59pm EST  --  Report as abuse
puzzled wrote:

While I admire the attempt to look for tax revenue among the higher income bracket, I believe the IRS is again missing the boat – Why should you attempt to switch behavior of people making between 250-500k a year? the real money the government should seek is that coming from the top 0.01% – the guys like buffett, dan loeb, steven cohen – these guys pay themselves a $1 in ordinary income and then the rest come to them as investment income – the tax rules for financial professionals need to change as these are people who derive all of their earnings from trading which is exactly their business – that to me sounds like it should be taxed at ordinary income tax rates, not capital gains – the hedge fund and financial professionals reduce their effective tax rates by simply following our tax loopholes. Shut those loopholes down and tax these guys on all income and treat it as ordinary – lets see how much revenue you make then. In years 2004-2007 dan loeb reported income of $250mm in each of those years – ill bet his effective tax rate was in the mid to high teens at best because he declared it as investment income – as a hedge fund manager, its his business and it should have been taxed at the ordinary and highest bracket of 39% – do the math by thousands of these guys.

Dec 05, 2012 12:17am EST  --  Report as abuse
txguy2112 wrote:

So it appears that if you make a certain amount of money you have to pay an additional penalty (tax) whether you have healthcare or not.

Dec 05, 2012 7:07am EST  --  Report as abuse
txguy2112 wrote:

correction: whether you have health insurance or not

Dec 05, 2012 7:07am EST  --  Report as abuse
Overcast451 wrote:

Obama’s ALREADY raised taxes – that’s what he and the SCOTUS claim the Healthcare costs are, right?

So – he’s already increased taxes on EVERYONE, NOT just the rich.

Dec 05, 2012 9:51am EST  --  Report as abuse
dancerboots wrote:

If a couple sells their assets…They still get taxed…For a couple to sell all their assets to bring them below the $250,000 cut off to avoid an increased 3.8% tax is ridiculous unless very little of that income came from capital gains. Most will hardly notice. For the last twelve years, because of the Bush tax cuts, a couple with that amount of income was receiving an extra(estimated)$12,000 a year. That equals $144,000. Taxes have never been lower for the last thirty years, but the ones screaming the most about the deficit/debt have no intentions of assisting in paying it down. Let the poor working class take care of it.

Dec 05, 2012 1:01pm EST  --  Report as abuse
MargaD wrote:

Congress passed this bill, so they did pass this “tax increase”. Also, there is a little clause way back about 900 pages that states that members of Congress will have to select their health coverage from the health exchanges, just like everyone else. It amazes me that all of you nay-sayers want to put all blame on Obama, when it is Conress making the rules and obviously you have not been paying attention, but they have done everything in their power to thwart any effort of the Obama administration to get anything reasonable done. Take your outrage and put it where it belongs. And the only thing a Romney win would have done was insure that the rich got richer. Boo hoo, some might have to pay an additional 3% in taxes. I’m more concerned on where that tax money is spent than how much I pay. I don’t like funding wars and defense to fight all over the world and that is the biggest expense there is. How about pulling our people out of foreign countries, use the saved money to strengthen our borders, take everyone on assitance that is not too old or disabled to work and train them and place them into a job so that they become consumers, not takers, and stop electing these same greedy rich men to go to Washington to do the business of our country. Oh, and make American countries that outsource the jobs to 3rd world countries pay a huge surcharge for that so it’s cheaper to have those manufacturing jobs here. And that would be a good place to put all these newly trained people coming off public assistance.

Dec 06, 2012 11:57am EST  --  Report as abuse
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